Troubled lighting firm NVC declares 'emergency' and moves headquarters

NVC Lighting, one of the mainland's largest lighting product makers, which is embroiled in a dispute with its chief executive, was in an "emergency situation" and will suspend operations in Chongqing and establish a temporary headquarters at its office in Huizhou, Guangdong.

"This action is being taken in order to ensure the efficient continued operation of the company, and to protect the interests of shareholders, employees, distributors, and suppliers," NVC said in an announcement yesterday.

"An emergency situation has been declared, and the emergency committee is accordingly empowered to exercise the powers and perform duties on behalf of the board."

The company said this month that it was forming an emergency committee, comprising executive directors Wang Donglei and Xiao Yu and independent director Wei Hongxiong.

Production at NVC's factory in Wanzhou, Chongqing - one of its four main production sites - had been suspended since August 8, the company said last week.

The board is battling to remove chief executive Wu Changjiang, who is based in Chongqing and is still in charge of the Chongqing operation.